Independent Advisor Alliance Grows Position in The Home Depot, Inc. (NYSE:HD)

Independent Advisor Alliance boosted its stake in shares of The Home Depot, Inc. (NYSE:HD) by 5.4% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 110,995 shares of the home improvement retailer’s stock after purchasing an additional 5,736 shares during the period. Independent Advisor Alliance’s holdings in Home Depot were worth $43,176,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Altiora Financial Group LLC bought a new stake in Home Depot during the fourth quarter worth approximately $364,000. Paragon Private Wealth Management LLC boosted its holdings in shares of Home Depot by 7.7% in the fourth quarter. Paragon Private Wealth Management LLC now owns 2,137 shares of the home improvement retailer’s stock valued at $831,000 after purchasing an additional 153 shares during the period. Daiwa Securities Group Inc. boosted its position in Home Depot by 5.4% during the 4th quarter. Daiwa Securities Group Inc. now owns 212,445 shares of the home improvement retailer’s stock valued at $82,639,000 after acquiring an additional 10,846 shares in the last quarter. Main Street Research LLC raised its holdings in Home Depot by 25.8% in the fourth quarter. Main Street Research LLC now owns 1,345 shares of the home improvement retailer’s stock worth $523,000 after purchasing an additional 276 shares in the last quarter. Finally, Schwarz Dygos Wheeler Investment Advisors LLC grew its position in shares of Home Depot by 3.9% in the 4th quarter. Schwarz Dygos Wheeler Investment Advisors LLC now owns 4,419 shares of the home improvement retailer’s stock worth $1,719,000 after buying an additional 167 shares during the last quarter. 70.86% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts recently commented on the stock. Guggenheim reiterated a “buy” rating and issued a $450.00 target price on shares of Home Depot in a research note on Wednesday, February 26th. Piper Sandler cut their target price on shares of Home Depot from $455.00 to $435.00 and set an “overweight” rating for the company in a report on Wednesday, February 26th. Hsbc Global Res raised shares of Home Depot from a “moderate sell” rating to a “hold” rating in a report on Wednesday, February 26th. Mizuho lifted their target price on shares of Home Depot from $435.00 to $440.00 and gave the company an “outperform” rating in a report on Wednesday, November 13th. Finally, Bank of America upped their target price on shares of Home Depot from $425.00 to $450.00 and gave the stock a “buy” rating in a report on Wednesday, November 13th. Nine research analysts have rated the stock with a hold rating, twenty-two have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $436.50.

Home Depot Stock Performance

Shares of Home Depot stock opened at $376.66 on Monday. The firm has a market capitalization of $374.16 billion, a P/E ratio of 25.59, a P/E/G ratio of 4.03 and a beta of 1.09. The Home Depot, Inc. has a 52 week low of $323.77 and a 52 week high of $439.37. The firm’s 50 day moving average is $400.21 and its two-hundred day moving average is $400.02. The company has a quick ratio of 0.31, a current ratio of 1.13 and a debt-to-equity ratio of 8.65.

Home Depot (NYSE:HD) last issued its quarterly earnings results on Tuesday, February 25th. The home improvement retailer reported $3.13 earnings per share for the quarter, topping the consensus estimate of $3.04 by $0.09. Home Depot had a return on equity of 452.60% and a net margin of 9.45%. The firm had revenue of $39.70 billion during the quarter, compared to the consensus estimate of $39.15 billion. During the same period last year, the company earned $2.82 earnings per share. The company’s revenue for the quarter was up 14.1% on a year-over-year basis. Research analysts forecast that The Home Depot, Inc. will post 15.13 EPS for the current fiscal year.

Home Depot Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, March 27th. Stockholders of record on Thursday, March 13th will be given a $2.30 dividend. The ex-dividend date is Thursday, March 13th. This represents a $9.20 dividend on an annualized basis and a dividend yield of 2.44%. This is a boost from Home Depot’s previous quarterly dividend of $2.25. Home Depot’s dividend payout ratio (DPR) is currently 61.66%.

Home Depot Company Profile

The Home Depot, Inc operates as a home improvement retailer in the United States and internationally. It sells various building materials, home improvement products, lawn and garden products, and décor products, as well as facilities maintenance, repair, and operations products. The company also offers installation services for flooring, water heaters, bath, garage doors, cabinets, cabinet makeovers, countertops, sheds, furnaces and central air systems, and windows.